AAL American Airlines Group margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 24

Gross margin

51.1%

Operating margin

1.6%

EBITDA margin

5.4%

Net margin

-0.8%

American Airlines Group records its net margin is negative at -0.8%, with a gross margin of 51.1%, an operating margin of 1.6%, an EBITDA margin of 5.4%, and a net margin of -0.8%. Gross margin had the largest decline, contracting by 4.1 percentage points, while the other available margins also decreased.

AAL margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, American Airlines Group recorded average margins of 53.83% gross, 3.66% operating, 8.33% EBITDA, and 0.58% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.

AAL margin expansion

Year-over-year margin changes in percentage points

The biggest contraction was in gross margin, which fell by 4.1 percentage points. The other available margins also declined.

Gross margin expansion

-4.1pp

Operating margin expansion

-2.4pp

EBITDA margin expansion

-3.5pp

Net margin expansion

-1.9pp

AAL Gross margin

Over the last 3 years, the average gross margin for American Airlines Group was 53.83%. The latest gross margin for American Airlines Group is 51.1%, 2.7 percentage points below its three-year average. American Airlines Group's gross margin ranged from a low of 51.1% in Sep 2026 to a high of 55.3% in Jun 2025.

AAL Operating margin

American Airlines Group's operating margin averaged 3.66% across the past 3 years. Right now, American Airlines Group's current operating margin is 1.6%, which is 2.1 percentage points below its three-year average. Over the last 3 years, American Airlines Group's operating margin peaked at 5.7% in Dec 2023 and reached a low of 1.6% in Sep 2026.

AAL EBITDA margin

American Airlines Group recorded an average EBITDA margin of 8.33% across the last 3 years. American Airlines Group currently reports an EBITDA margin of 5.4%, 2.9 percentage points below its three-year average. Over the last 3 years, American Airlines Group's EBITDA margin peaked at 10.5% in Dec 2023 and reached a low of 5.4% in Sep 2026.

AAL Net margin

Over the last 3 years, the average net margin for American Airlines Group was 0.58%. As of the latest period, American Airlines Group's current net margin is -0.8%, which is 1.4 percentage points below its three-year average. American Airlines Group's net margin ranged from a low of -0.8% in Sep 2026 to a high of 1.6% in Dec 2024.

AAL margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 51.1%, AAL stands higher than the Industrials sector and the industry average but lower than its peers average. Looking at the Industrials sector average of 32.7%, American Airlines Group's gross margin is 56% higher.

AAL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is American Airlines Group's gross margin?

For the period ending Sep 30, 2026, AAL recorded a gross margin of 51.1%.

What is American Airlines Group's operating margin?

As of Sep 30, 2026, AAL has an operating margin of 1.6%.

What is American Airlines Group's EBITDA margin?

As of Sep 30, 2026, AAL has an EBITDA margin of 5.4%.

What is American Airlines Group's net margin?

As of Sep 30, 2026, AAL has a negative net margin of -0.8%.

What are the average margins of AAL?

Looking back over 3 years, AAL recorded average margins of 53.8% gross, 3.7% operating, 8.3% EBITDA, and 0.6% net.

What are the highest historical margins of AAL?

Over this 5-year history, AAL peaked at 55.3% gross in Jun 2025, 9.3% operating in Jun 2023, 14.9% EBITDA in Jun 2023, and 5% net in Jun 2023.

What are the lowest historical margins of AAL?

Across the 5-year period, AAL posted its lowest margins at 46.4% gross in Dec 2021, -4.2% operating in Mar 2022, 3.4% EBITDA in Mar 2022, and -6.8% net in Mar 2022.